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Dec 27, 2012
12/12
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that is why some people refer to him as helicopter ben. before he became the chairman of the fed, he said it would be a good idea in the middle of the great recession to do that. when he buys mortgage-backed securities from jpmorgan, right? effectively what he does is he creates an audit from which jpmorgan controls to pass these mps's to another bank. jpmorgan cannot lend that money to you. the only way he can make this happen with qe is if there is an amazing equilibrium among the bankers, and at the same time, they must feel that as a result of this that interest rates will fall sufficiently for house buyers to order new homes from them, so they can make use of those new loans. that is why it as a result of this coincidence of optimism, it is nowhere to be found in this equilibrium of fear that we are experiencing. the money supply is not increasing. but bernanke loves to print money. my criticism of quantitative easing is what he is trying to do is to create a new bubble in mortgage-backed securities. we talk about toxic derivatives. t
that is why some people refer to him as helicopter ben. before he became the chairman of the fed, he said it would be a good idea in the middle of the great recession to do that. when he buys mortgage-backed securities from jpmorgan, right? effectively what he does is he creates an audit from which jpmorgan controls to pass these mps's to another bank. jpmorgan cannot lend that money to you. the only way he can make this happen with qe is if there is an amazing equilibrium among the bankers,...
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Dec 27, 2012
12/12
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until some believe their own rhetoric -- read ben bernanke -- about moderation. but when the global minotaur was mortally wounded, it left the global economy in disarray. it has put the world in permanent crisis. the minotaur was slain by a brave warrior named theseus. its death ushered a new era of tragedy, history, philosophy. our very own global minotaur died as the victim of wall street bankers. what will its demise bring? should be hope for a new era in which wealth does not require poverty? will be develop a system where no longer will abstract power waned while others get stronger? the global minotaur will be remembered as a remarkable piece to whose rain created and destroyed the aleutian -- the illusion that the global economy was stable. [applause] right. questions? i think i am going to moderate myself. ok, you have to line up. this is the way you do it here, isn't it? >> that is a brilliant vision of where we have been. can you elaborate a little bit more on where you see us going? >> very briefly, i think that we are in a state of sustained bewilderm
until some believe their own rhetoric -- read ben bernanke -- about moderation. but when the global minotaur was mortally wounded, it left the global economy in disarray. it has put the world in permanent crisis. the minotaur was slain by a brave warrior named theseus. its death ushered a new era of tragedy, history, philosophy. our very own global minotaur died as the victim of wall street bankers. what will its demise bring? should be hope for a new era in which wealth does not require...
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Dec 28, 2012
12/12
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we spoke with ben nelson. that is followed by a jerry lewis -- by jerry lewis. senator ben nelson is retiring fr the senate aft 12 yea he spoke to us about why he thinks compromise in the senate is not a four-letter word. this is 40 minutes. >> thank you for spending a half-hour with us to talk about your 12 years in washington. it ended with the reelection of barack obama. if you could think of adjectives, what would they be to describe these seven years? >> interesting. challenging. sometimes totally frustrating. full of opportunities for the country. there were good times during these 12 years, laced together with some that were not so good. 9/11. the anthrax scare. there were also positive things. the election of barack obama i thought was a very positive statement for the country and moving forward in a way out of a fiscal of this. abyss.thi i could not have imagined a better time to have been here with all of the things that have happened. >> let me ask you to look back over those 12 years and ask what the high point was. >> when we could work together. ma
we spoke with ben nelson. that is followed by a jerry lewis -- by jerry lewis. senator ben nelson is retiring fr the senate aft 12 yea he spoke to us about why he thinks compromise in the senate is not a four-letter word. this is 40 minutes. >> thank you for spending a half-hour with us to talk about your 12 years in washington. it ended with the reelection of barack obama. if you could think of adjectives, what would they be to describe these seven years? >> interesting....
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Dec 26, 2012
12/12
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he called me every day on cell phone to see how ben was doing. and that is the relationship. we are parents first. he understood what my family was going through. you can always build on that. you can always find common ground. he ended up voting on environmental legislation with mefter he told me that he was not a tree hugger and he would not do it. it does work and it is important. you have to focus on what you have in common with the people of new hampshire have in common >> growing up in everett -- have in common. >> and growing up in a republican family and you are of a different party, you realize they're wonderful people on the other side of the spectrum. we worked closely with the republicans, especially the women senators for the yard. kelly had the great race to call me after i w. we talk about the yard and our commitment to the military and to veterans. we share a lot. we need to remember that. >> back to the table of seven kids -- >> i feel i was born bipartisan. my mother was republican and i can get along with republicans or democrats or the 42% of new hampshire
he called me every day on cell phone to see how ben was doing. and that is the relationship. we are parents first. he understood what my family was going through. you can always build on that. you can always find common ground. he ended up voting on environmental legislation with mefter he told me that he was not a tree hugger and he would not do it. it does work and it is important. you have to focus on what you have in common with the people of new hampshire have in common >> growing up...
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Jan 2, 2013
01/13
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let's hear from you on the house vote today as we whatever the fiscal cliff, a term coined by ben bernanke. john is on the phone from connecticut. caller: i think it is good, but i think we should have gotten a deeper -- i would have liked to have seen 250. i also find its disturbing it sound like we are being referred to as the people instead of fellow americans -- i find it disturbing it sounds like we are being referred to as the people instead of fellow americans. it sounds like congress is a noterent body, n.yand they are representing us, and i hope they will turn it around and start representing the people's will. >> you heard the back-and-forth. we expected the house to double out 30 minutes ago, but the last minute speeches by democratic and republican members dealing with the issue of hurricane sandy and the $60 billion package that as part of the relief effort -- the house is back tomorrow. the future of the legislation remains uncertain. jack joins us from idaho. i would say good evening, because it is morning in washington but evening in idaho. >> witnessing this spectacle, it
let's hear from you on the house vote today as we whatever the fiscal cliff, a term coined by ben bernanke. john is on the phone from connecticut. caller: i think it is good, but i think we should have gotten a deeper -- i would have liked to have seen 250. i also find its disturbing it sound like we are being referred to as the people instead of fellow americans -- i find it disturbing it sounds like we are being referred to as the people instead of fellow americans. it sounds like congress is...